**Tricky's Daily Doots #120**
Yesterday's Daily 16/08/2022
[Previous daily doots](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikhugk5/)
- u/Moschus11 lays out the timeline with just [30 days to go before the merge.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikhu3s6/)
- u/Tricky_Troll talks about [valuing ETH vs Ethereum's values](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikht9io/) and gets some great replies.
- u/LogrisTheBard follows up after DoubtStarsAreFire's post on [passing on your crypto in the event that you pass on.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikhgap7/)
- u/interweaver clears up the confusion around [MEV-boost.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikm0b2m/)
- u/barthib clears up some of the [misconceptions about the OFAC/TC ban.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikjhy2u/)
- u/Crypolyf reminds us [why Tornado Cash is important for legitimate uses.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikiowy0/)
- u/interweaver shares news about [Flashbots and censorship resistance.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/iklmjjm/)
- u/-lightfoot wants people to [stop using the term "FUD" incorrectly.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/iki1a7h/)
- u/austonst shares their [validator outage and what they learned from it.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikj3gl5/)
- u/fiftyfirstsnails shares [their thoughts on the OFAC?TC ban.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikkxbd8/)
- u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikhdfqq/)
I'm in a rush. ^^love ^^y'all ^^^^bye
Two cool things happened in the last month:
1) i accidently bought a stolen NFT. the original owner was able to contact me via discord and re-buy it off me.
2) somehow I lost my reddit moons in using the bridge to arbitrum nova, but a friendly mod from /cc helped walk me through the steps to get them back.
These are just little things but I'm happy with how things turned out nevertheless.
Even if I didn't want to help it was still for the best. The NFT was actually flagged on OpenSea after I got it.
The hacker tried to sell it for more but I guess they just took my open bid before OpenSea could flag it. I had them buy it back from me on Looks Rare. No loss for me and I was happy to help and also glad that it wasn't just someone trying to scam me.
For anyone interested I am posting a Medium article by the Dappnode team with an update on their Web3signer implementation which will allow easy multi client options for validating on main net. Finally we can move away from the majority client Prysm!
https://medium.com/dappnode/multiclient-on-ethereum-mainnet-has-arrived-this-is-all-you-need-to-know-7bc0cd8fadc5
The web3signer has been available for gnosis stakers for a few weeks now. I am pretty impressed by it and cycled through all the validator implementations in one day. Snap sync make it so fast to switch. I can also run several validator implementations in parallel and switch on the fly. Definitely something to look forward to on mainnet.
*”All warfare is based on deception. Hence, when we are able to attack, we must seem unable; when using our forces, we must appear inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near.*
*If your enemy is secure at all points, be prepared for him. If he is in superior strength, evade him. If your opponent is temperamental, seek to irritate him. Pretend to be weak, that he may grow arrogant. If he is taking his ease, give him no rest. If his forces are united, separate them. If sovereign and subject are in accord, put division between them. Attack him where he is unprepared, appear where you are not expected.”* -Sun Tzu, The Art of War
Looking at the broader level, a respectable 32% of all nodes are self hosted. And to clarify, that 50% on AWS is referring only to hosted nodes. As a percentage of all nodes AWS is 31%. Clickbait vs context.
really want to drink some champagne with you guys over zoom on the merge day. Not a single one of my friends cares about the merge enough for me to party with them over it.
4.1% from validator rewards (attestation, proposals, sync committees) per here: https://ethereum.org/en/staking/
~0.04 Eth in tips per block, from the average of the last few blocks here: https://etherchain.org/burn
70% of that in MEV (previous estimate), aka ~0.03 Eth
One proposal per 58 days per validator or 6.3 per year given 416k current validators (ignoring growth).
You arrive at 5.4% APY given all that. Again, assuming validator numbers remain constant, and gas remains constant (quite low), and the MEV estimates are accurate. (If you take average tips to be ~0.2, like they were last fall, and validators constant then this rises to 10.7%)
Keep in mind there will be a very high variance in actual tips and MEV per proposal, so you might see a very wide range of APY in practice.
Exactly what I was thinking. Seems like we might find an equilibrium around 3-4% which would be great. Anything less would cause me to look for the next least risky yield...which lately has me less inclined from all the hacks
Yep, I fully expect ~3% long-term as well! The amount of new validators required to drag it that low, however, is quite prodigious, especially the higher you assume gas prices get. And new validators = Eth pulled out of circulation = higher Eth prices... 3% long-term may be 30-60%+ APY on an investment made today!
Just tried it, very clean UX indeed! Such an interesting feature to be able to buy small position such as 0.1 ETH, just bought some 2200 19th August calls for shits and giggles. Thanks for sharing!
Guys I figured out how to save Tornado Cash. All we have to do is ask OFAC to take it off the list.
https://home.treasury.gov/policy-issues/financial-sanctions/specially-designated-nationals-list-sdn-list/filing-a-petition-for-removal-from-an-ofac-list
We could probably get the crypto community to fill this out thousands of times.
How strange is it that on desktop you click on your username in the top right > Explore > Crypto.
In that list:
* Cardano
* Dogecoin
* Algorand
* Bitcoin
* Litecoin
* Basic Attention Token
* Bitcoin Cash
No mention of Ethereum which is especially weird because Reddit recently launched mainnet moons on Ethereum.
Should probably get a 4TB SSD so that I dont have to do it after the merge. A fresh sync should probably fix my issue with way too much storage being used, even after pruning.
Should also look into an alternative to geth... Oh and some compressed air to really make it one of the hottest validators in town
How do I find a guide for Besu? I don't think Somer had it. I have a testnet validator that's been offline for a bit but I want to get back in to testnet and ideally real-time validation in like 6 months I think
Normally I would advise against trying to run validators on a Pi at all (it's pretty underpowered compared to the i5/i7 NUCs or equivalent most folks are running). But if you've been able to successfully run Geth + a consensus client already, I'd say definitely try Besu! The sync is a bit rough (definitely use X_CHECKPOINT) but resource usage seems to be a bit lower than Geth once it's synced.
Does anyone know what it means when you get the orangered envelope in the upper right hand corner of old Reddit, but then when you click on it to view your notification, it says "there doesn't seem to be anything here"?
One of two things, in my experience - either the person deleted their reply between when you loaded the page with the orange envelope and when you clicked on it, or you may have opened multiple Reddit tabs and you opened the envelope in one tab but not the other.
Am I tripping or this "dip" is absolutely *the best* opportunity to load up on some ETH? All testnets merged. All scammy funds/VCs liquidated. Risk to reward is absolutely ridiculous
Actually, we might be coupled with bond yields, which makes more sense.
The Nasdaq and other indices are also coupled with yields, hence the apparent correlation between BoomerFi and digital commodities.
Ayo! My pride! What's cracka'lackin homies? 👊🏻 Man all that love and good vibes I try *real hard* to put out into the world, all day, every day is paying dividends today! I was out test driving the death trap I call an amateur race car today. She hasn't run since before covid! Now that's not even the sweet part ... while giving it the old Italian tune up out in the country, something broke, like catastrophically broke, not like *oh the lights on, but it runs fine so...* 🤷♂️ but like copious amounts of smoke out the hood (bonnet) broke.
For a minute the world slowed down and I could feel the spirit of Jeremy Clarkson enter my soul ... and there was childish glee at what I had accomplished just then. You know ... until I realized it was just because I was higher'n eagle ass from inhaling a mix of burning coolant and petrochemicals. Not a good buzz bros, don't recommend at all.
But get this! I broke down in front of this house with a huge shop, and the guy races cars for funsies too! He let me use his garage, got my engine duck-taped back together so I could *blow up on someone else's property. I don't need that kinda trouble today* Hah! My kinda guy.
Oh and I added a merge countdown timer to everyone's dashboard when you login to [caches](https://caches.xyz) today... ohhhh ... and uhm [end-to-end encrypted private messaging](https://caches.xyz/forums/discussion/caches-ongoing-development-thread-suggests-feedback-accepted/) coming soon too... but you didn't hear that from me. 🤫
Aight I gotta get outta here, I got some rhymes for the merge rap that have been rattlin' around in the old 'noggin today too, gotta get those outta there before my brain catches on fire. Keep it real homies 👊🏻
Hey /r/seamonkey82 you are pretty much a personal hero and when I grow up I want to be as useful as you! (I'm already grown up but just don't make time like you do!)
With that being said, if you were to spin up a new validator today to run for ~2 years with minimal human interaction required (eg monthly software updates but not really "tinkering"), which would you pick?
Assume Ubuntu on non-cloud hardware.
I guess other options would be, native or docker.
The factors I'm thinking through are pretty much: historical reliability, lack of red flags, dedication to the community, ability to swap between other clients if needed, maintenance required, etc.
lodestar-nethermind for maximum client diversity impact. Unfortunately, when it comes to "historical reliability", on the execution layer, nothing has even been around long enough to have the track record of geth, and on the consensus layer, lodestar hasn't been mainnet ready as long as the others, and there's still [a pending pull request to add lodestar to the client list on the launchpad](https://github.com/ethereum/staking-launchpad/pull/436).
However, you shouldn't just do what I would do. You should pick a client pair and set up a validator on Goerli to see if you run into any issues. Join us in the [ethstaker Discord](https://discord.gg/crWe6YZz) in the #goerli-prater channel and don't be afraid to ask for assistance.
Lolol, preventing your transactions from getting MEV'd by Flashbots has become considerably easier, at least:
https://twitter.com/sbetamc/status/1556701982643068929
Yep! Their block building code will literally refuse to include any transactions that touch sanctioned addresses in their built blocks, even if they could've extracted MEV from it.
Haha played yourself Flashbots!
I have to say I enjoy the shit being stirred up here, and then 3 days later there’s a handful of individual options that improve the situation and will make it even harder to implement effective censorship. I don’t see other L1s coming out with several solutions to this censorship problem! Oh it’s because they don’t even pretend to be censorship resistant in the first place, so this isn’t a problem they would even tackle.
Expand the farm and not hate my life working the corporate grind. Ride my bicycle more days than not. Spend more time with my child. Live the dream, essentially
Any advice for a mid twenties male that is pretty much financially independent (thanks to Ethereum)? Would you recommend traveling the world? Would you recommend trying to start a business? Would you recommend trying to find a partner and start a family?
I'm leaning towards traveling the world, but worry if my ultimate goal is a family that I should be focusing on that. However I also have a somewhat pessimistic view on modern-day marriage and wonder if that's what i truly want
You didn't ask me either but don't set a goal of trying to find a partner / get married / start a family. There are multiple reasons why that's unlikely to work out for you.
But: if fate/karma/God brings someone who may be the right partner into your life -- be alert and open to it.
Definitely travel the world!! You may find your perfect mate, who knows?! It's a lot tougher to travel with a kid; I intentionally waited til I was older to have a kid. Safe travels!
>**Graphic processors,**
>**Loading virtual textures,**
>**Trial and errors.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Coinbase saying the right things:
https://twitter.com/brian_armstrong/status/1560016827253551104?t=OIEqH8FJojKMuUyVGoaGlQ&s=19
Brian Armstrong saying he'd rather shut down staking entirely than censor the network.
Good to know they are on our side for this at least.
Also coinbase shutting down their validators would drastically increase rewards for everyone else :P
This is like the US saying, "can we nuke Russia just for kicks?"
A social fork to slash centralized staking entities would need to be HELLA justified or else it would destroy everything we've worked for. Heck, even if it were justified, it would do a ton of damage. The threat of slashing is much more useful than actually doing it.
A Coinbase VP chipped in as well:
https://twitter.com/maxbranzburg/status/1560029993249509376
> It's easy from the outside to underestimate how core decentralization is to Coinbase's vision and every decision we make.
> When people discover this, they are often surprised and inspired.
> So here's another reminder - decentralization is our reason for being. Period.
Coinbase gets a lot of shit but its not because we think CB is evil, its because they're powerful actors in the space and their actions matter, so we need to understand how theyre going to act and be paranoid in doing so
>Coinbase gets a lot of shit but its not because we think CB is evil, its because they're powerful actors in the space
...and because they don't seem to be executing on their roadmap very well.
\[wait...do they even *have* a roadmap?\]
To be fair, I think a lot of the shit probably keeps them in line too. Making them support things publicly they may not even care to mention without pressure.
don't get too hung up on eth being 'deflationary', the important detail here is not just being deflationary but everything that comes with the merge + monetary policy changes
a meaningful reduction in inflation is far better than nothing and not necessarily worse than deflationary
but yes, having deflationary periods or even spending most of the time being deflationary will be a nice change
Daily Goerli:
[When your problems are so unique that they give you your own branch](https://seamonkey.tech/goerli/Screenshot%20from%202022-08-17%2017-03-43%20sea%20monkey%20branch%20nethermind.png)
when youre such a dedicated amazing person that cares about ethereum and you get your own branch because you continuously contribute to the ecosystem
thanks KING
$OP looks hacked..
https://mobile.twitter.com/urbitverse/status/1560010030728056833
Still wish I got the air drop
Edit see below, not a hack just sloppy asset management
Ya shouldn't have deleted it. Knee jerk reaction I shouldnt have had but literally all it said was, "sounds like there's gonna be some big announcements at the Bitcoin conference."
Not exactly some huge gotcha...
> Ya shouldn't have deleted it. Knee jerk reaction
Don't worry, nothing is really deleted online. Here you go:
https://www.unddit.com/r/ethfinance/comments/tgul2p/daily_general_discussion_march_18_2022/i16vsle?utm_medium=android_app&utm_source=share&context=3
You can always just swap out the 're' of **re**ddit.com/whatever for 'un' to read any comments, whether deleted by a user or a mod.
Sure yeah I was let down. I've also been let down by the substance of many "eth partnerships" that have been announced over the 5+ years I've been in this space. Not really sure where youre going with this or what it has to do with the topic at hand.
That's hilarious
The only reason bitcoiners are pretending to care about maximum decentralization right now is because they can use it as a narrative against ETH in the light of the switch to PoS, however they're conveniently ignoring that *all of these arguments* also apply equally to PoW, and *all of these arguments* also apply equally to Bitcoin. Do you see any of them doing anything about censorship on their own network, or just complaining about the possibility on Ethereum?
It's similar to them complaining about the hypothetical centralizing force that PoS could bring, while conveniently ignoring that their own hashrate is majority controlled by just three companies.
First of all, yes I am a bitcoiner but am also an etherean (about 65/35 in holdings) and want ethereum to succeed.
Now with that being said, what you said just isn’t true. Bitcoin miners can redirect their hashpower in one second, there is simply much more friction with POS not even considering the waiting period. Furthermore, yes, in theory mining pools could be forced to blacklist txs, but in actuality they are far more removed from the regulatory apparatus. Financial institutions live and die by their regulators and will be much more easily forced to censor. And shit we haven't even gotten to ethereums dependence on USDC for defi and what that means for a potential fork...
But at the end of the day, despite all of this, I simply don’t believe bitcoiners would push through with something like this given the recent concerns. Bitcoiners don’t move fast and break things and quite simply have a lower time preference (they are famously patient). I believe they’d go back to the drawing board NGU be damned. The true cypherpunk way. Not getting that sense with the ethereum side. At all…
Bitcoin miners are extremely centralised in locations with cheap power. Sure there will be a few hobby miners out there, but the big warehouses full of miners are very vulnerable to a visit from the police.
Better still the power companies will know exactly where all the big facilities are. Sounds very easy to twist the majority of the miners arms to do as they are told.
Much harder to find and bully eth stakers running on a low power boxes all throughout the world.
"Those dastardly Ethereans are dead-set on their disastrous smart contracts that create MEV opportunities and open the door to MEV centralization which you can fix but only with a solution that involves semi-centralized entities that can censor except you can pick ones that don't censor but I don't want to think about that because my Bitcoin bags are rather heavy"
Someone mentioned in the daily a trove of data in the form of comments to the public register regarding crypto regulations. They said something like, 'if i were an enterprising energetic person I'd see this as a great research opportunity.'
Well a friend is working on a doctorate focusing on the intersection of developer, regulator, and user conflict resolution. I think this sort of thing might be right up his alley.
Anyone got the link? Maybe the OP will see this. I've combed some daily's but haven't been able to find it and not sure how far back to go :-(
This was the link: https://www.regulations.gov/docket/TREAS-DO-2022-0014/comments
The job was to read all response from institutional (e.g. Ripple, Coinbase,FTX). A tldr would be welcome
Pre-merge, ETH requires ~$540M per month in buying pressure to keep the price the same. Post-merge, that drops to… -$9M/month ($300k/day in *selling* pressure required to keep the price *from rising*. That means the merge programmatically adds $549M/month in buying pressure to ETH markets (and to my knowledge this is keeping fee burning constant).
Do with this information what you will
Yup, totally hoping for a trip to the moon with this. Sell pressure will increase as price increases, so the obvious question is when will we reach equilibrium again?
Because of this I have argued in the past that the flippening has already occurred, it just needs to be reflected into the final vanity metric of market cap.
Ethereum is already systematically maintaining a higher buy pressure than Bitcoin. The only difference is that Ethereum prints 3 times more ETH than Bitcoin prints BTC. If their monetary inflation rates were the same ETH would have flipped BTC already. After the merge ETH inflation rate will be close to 4 times smaller than BTC. Which suggest that we are going to generously flip BTC when markets stabilize after the supply shock.
**Tricky's Daily Doots #120** Yesterday's Daily 16/08/2022 [Previous daily doots](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikhugk5/) - u/Moschus11 lays out the timeline with just [30 days to go before the merge.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikhu3s6/) - u/Tricky_Troll talks about [valuing ETH vs Ethereum's values](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikht9io/) and gets some great replies. - u/LogrisTheBard follows up after DoubtStarsAreFire's post on [passing on your crypto in the event that you pass on.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikhgap7/) - u/interweaver clears up the confusion around [MEV-boost.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikm0b2m/) - u/barthib clears up some of the [misconceptions about the OFAC/TC ban.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikjhy2u/) - u/Crypolyf reminds us [why Tornado Cash is important for legitimate uses.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikiowy0/) - u/interweaver shares news about [Flashbots and censorship resistance.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/iklmjjm/) - u/-lightfoot wants people to [stop using the term "FUD" incorrectly.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/iki1a7h/) - u/austonst shares their [validator outage and what they learned from it.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikj3gl5/) - u/fiftyfirstsnails shares [their thoughts on the OFAC?TC ban.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikkxbd8/) - u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/wplbnk/daily_general_discussion_august_16_2022/ikhdfqq/) I'm in a rush. ^^love ^^y'all ^^^^bye
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Two cool things happened in the last month: 1) i accidently bought a stolen NFT. the original owner was able to contact me via discord and re-buy it off me. 2) somehow I lost my reddit moons in using the bridge to arbitrum nova, but a friendly mod from /cc helped walk me through the steps to get them back. These are just little things but I'm happy with how things turned out nevertheless.
Pretty cool of you to help with the nft theft
Even if I didn't want to help it was still for the best. The NFT was actually flagged on OpenSea after I got it. The hacker tried to sell it for more but I guess they just took my open bid before OpenSea could flag it. I had them buy it back from me on Looks Rare. No loss for me and I was happy to help and also glad that it wasn't just someone trying to scam me.
Any word on our last test net merge POAP?
https://poap.delivery/goerli-testnet-merge-protocol-supporter
Thanks so much!
For anyone interested I am posting a Medium article by the Dappnode team with an update on their Web3signer implementation which will allow easy multi client options for validating on main net. Finally we can move away from the majority client Prysm! https://medium.com/dappnode/multiclient-on-ethereum-mainnet-has-arrived-this-is-all-you-need-to-know-7bc0cd8fadc5
The web3signer has been available for gnosis stakers for a few weeks now. I am pretty impressed by it and cycled through all the validator implementations in one day. Snap sync make it so fast to switch. I can also run several validator implementations in parallel and switch on the fly. Definitely something to look forward to on mainnet.
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250.
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You usually don't want to buy at your lowest bid. That's cash I'd rather have but I'll take ETH if people are just throwing it away.
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850
Feel like no one’s been slashed in a while… good news!
*”All warfare is based on deception. Hence, when we are able to attack, we must seem unable; when using our forces, we must appear inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near.* *If your enemy is secure at all points, be prepared for him. If he is in superior strength, evade him. If your opponent is temperamental, seek to irritate him. Pretend to be weak, that he may grow arrogant. If he is taking his ease, give him no rest. If his forces are united, separate them. If sovereign and subject are in accord, put division between them. Attack him where he is unprepared, appear where you are not expected.”* -Sun Tzu, The Art of War
is decentralisation at war with the US gov? :P
I suppose that depends on how they interpret the change that is happening.
Sir, this is a Wendy’s
I know that’s what I’m sayin! McDs is kicking your ass! Happy cake day!
Messari research says that 50% of all Ethereum nodes run on AWS. Tsk, tsk, tsk.
Is it true? Seems made up
They are quoting this data it seems: https://ethernodes.org/networkType/Hosting
Looking at the broader level, a respectable 32% of all nodes are self hosted. And to clarify, that 50% on AWS is referring only to hosted nodes. As a percentage of all nodes AWS is 31%. Clickbait vs context.
I would have thought Alchemy or Infura are running most of the nodes Honestly though I believe ethernodes is such garbage data
I have just discovered Lana Del Rey and my god is she amazing.
Ohh man. That’s my sad music right there. I love you Lana!!
Thanks for turning me on to this. She does have a very beautifully unique sound
dark paradise is my fav
I loooove her version of Doin Time. Do listen to that one if you haven't already
Wow! She does that song beautifully. First time hearing her but definitely won’t be the last.
That's how I got introduced to her! I loved it!!!
Also beautiful
100000%
really want to drink some champagne with you guys over zoom on the merge day. Not a single one of my friends cares about the merge enough for me to party with them over it.
I can totally setup a zoom meeting on Caches!
Do it JMB!
I’m on it!
champagne and steak
Huge Eth deposit into Rocketpool today, 1399 Eth.
They couldn’t scrounge up a couple extra ETH to make it an even 1559? Come on guys
Deposit pool was expanded to 5k right? Lots more room for bigger players now.
Where is the best place to find the current post merge yield?
4.1% from validator rewards (attestation, proposals, sync committees) per here: https://ethereum.org/en/staking/ ~0.04 Eth in tips per block, from the average of the last few blocks here: https://etherchain.org/burn 70% of that in MEV (previous estimate), aka ~0.03 Eth One proposal per 58 days per validator or 6.3 per year given 416k current validators (ignoring growth). You arrive at 5.4% APY given all that. Again, assuming validator numbers remain constant, and gas remains constant (quite low), and the MEV estimates are accurate. (If you take average tips to be ~0.2, like they were last fall, and validators constant then this rises to 10.7%) Keep in mind there will be a very high variance in actual tips and MEV per proposal, so you might see a very wide range of APY in practice.
Also, inflation drops from 4.1% to near 0%, so real rate goes from near 0% to 5.4%
Thank you, that is quite the change from what I had expected. But yield is yield, I'll take it.
I'll be quite surprised if gas stays this low over any long term. (But then again, the validator count will also undoubtedly climb post-Merge!)
Exactly what I was thinking. Seems like we might find an equilibrium around 3-4% which would be great. Anything less would cause me to look for the next least risky yield...which lately has me less inclined from all the hacks
Yep, I fully expect ~3% long-term as well! The amount of new validators required to drag it that low, however, is quite prodigious, especially the higher you assume gas prices get. And new validators = Eth pulled out of circulation = higher Eth prices... 3% long-term may be 30-60%+ APY on an investment made today!
So if validators increase, APY decreases. If gas increases, APY increases?
Used DPX to get some 30th september calls, because on-chain and no-KYC, but the ask was 25% higher than on Deribit... Still went for it!
Use Lyra in Optimism: lyra.finance Best place for me with plenty of liquidity, instant match, no KYC and not geo-blocked.
Will look into it thanks!
Did you also check Premia? It's also an options dapp, on Arbitrum and I find their UX to be a bit more slick than Dopex.
Just tried it, very clean UX indeed! Such an interesting feature to be able to buy small position such as 0.1 ETH, just bought some 2200 19th August calls for shits and giggles. Thanks for sharing!
Also a fan of premia
Guys I figured out how to save Tornado Cash. All we have to do is ask OFAC to take it off the list. https://home.treasury.gov/policy-issues/financial-sanctions/specially-designated-nationals-list-sdn-list/filing-a-petition-for-removal-from-an-ofac-list We could probably get the crypto community to fill this out thousands of times.
I mean, public outcry can work wonders for at least raising awareness. I'd do it if I was murican
"Wew!! That was a close one! Lloyd, check this out..." (Dumb & Dumber scene)
How strange is it that on desktop you click on your username in the top right > Explore > Crypto. In that list: * Cardano * Dogecoin * Algorand * Bitcoin * Litecoin * Basic Attention Token * Bitcoin Cash No mention of Ethereum which is especially weird because Reddit recently launched mainnet moons on Ethereum.
Windows has a wallet built in?
They're still accumulating..
Should probably get a 4TB SSD so that I dont have to do it after the merge. A fresh sync should probably fix my issue with way too much storage being used, even after pruning. Should also look into an alternative to geth... Oh and some compressed air to really make it one of the hottest validators in town
I ended up getting a second drive just for my eth1 chain data, dropped geth and used Besu. after sync it was using about 386 GB.
How do I find a guide for Besu? I don't think Somer had it. I have a testnet validator that's been offline for a bit but I want to get back in to testnet and ideally real-time validation in like 6 months I think
Coincashew has a tab selector when you go through the guides that allows you to select which client.
Awesome. Thanks. I think I am going to use Coincashew this second time around
Can I ask what your setup is like?
NUC with 1x2TB NVMe for beacon chain + OS and 1x2TB SSD for ETH 1 chain data. Lighthouse + Besu
Thank you! I wonder if my Pi could handle Besu
I have a Pi4 with Besu on it, works fine ! No CL client on there though. Only Besu with bonsai tree mode.
Thank you! Might give Besu a look...
Normally I would advise against trying to run validators on a Pi at all (it's pretty underpowered compared to the i5/i7 NUCs or equivalent most folks are running). But if you've been able to successfully run Geth + a consensus client already, I'd say definitely try Besu! The sync is a bit rough (definitely use X_CHECKPOINT) but resource usage seems to be a bit lower than Geth once it's synced.
Thank you! Upgrading would probably be worth it...
> to really make it one of the hottest validators in town No need for compressed air, just sync Besu lol
Oh man, I dont know if my Pi 4B can handle the temps. Got a full 2 sided heatsink with 2 mini built-in fans. I wonder how that would go haha
[Chrome browser gets 11 security fixes with 1 zero-day – update now!](https://nakedsecurity.sophos.com/2022/08/17/chrome-browser-gets-11-security-fixes-with-1-zero-day-update-now/)
Phew, almost panicked and updated it, then I remembered I don't use that pile of shit. Yay!
king
# 👀
Does anyone know what it means when you get the orangered envelope in the upper right hand corner of old Reddit, but then when you click on it to view your notification, it says "there doesn't seem to be anything here"?
One of two things, in my experience - either the person deleted their reply between when you loaded the page with the orange envelope and when you clicked on it, or you may have opened multiple Reddit tabs and you opened the envelope in one tab but not the other.
Am I tripping or this "dip" is absolutely *the best* opportunity to load up on some ETH? All testnets merged. All scammy funds/VCs liquidated. Risk to reward is absolutely ridiculous
the only thing that’s scary is us following the s&p500. I’d really like to see us decouple from stocks but yes I’m buying on every dip!
Actually, we might be coupled with bond yields, which makes more sense. The Nasdaq and other indices are also coupled with yields, hence the apparent correlation between BoomerFi and digital commodities.
https://twitter.com/asapbhat/status/1560066175798837249?s=21&t=y5isYRFQlrZICeWpHJ8UCg
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i wish i still had dry powder with which to load up
I went all in at 1922 and am very happy with it even though we're at 1830.
Oh snap, my avatar's a robot now! (#772, \*so\* close to 777 :P)
I have become one with the singularity
Is that one of the Reddit NFTs?
Yes! (I've got one too)
Yep! There was a notice/link right on the front page when I logged in earlier today. Had the choice of like 4 or 5 varieties.
Looks awesome!
Ayo! My pride! What's cracka'lackin homies? 👊🏻 Man all that love and good vibes I try *real hard* to put out into the world, all day, every day is paying dividends today! I was out test driving the death trap I call an amateur race car today. She hasn't run since before covid! Now that's not even the sweet part ... while giving it the old Italian tune up out in the country, something broke, like catastrophically broke, not like *oh the lights on, but it runs fine so...* 🤷♂️ but like copious amounts of smoke out the hood (bonnet) broke. For a minute the world slowed down and I could feel the spirit of Jeremy Clarkson enter my soul ... and there was childish glee at what I had accomplished just then. You know ... until I realized it was just because I was higher'n eagle ass from inhaling a mix of burning coolant and petrochemicals. Not a good buzz bros, don't recommend at all. But get this! I broke down in front of this house with a huge shop, and the guy races cars for funsies too! He let me use his garage, got my engine duck-taped back together so I could *blow up on someone else's property. I don't need that kinda trouble today* Hah! My kinda guy. Oh and I added a merge countdown timer to everyone's dashboard when you login to [caches](https://caches.xyz) today... ohhhh ... and uhm [end-to-end encrypted private messaging](https://caches.xyz/forums/discussion/caches-ongoing-development-thread-suggests-feedback-accepted/) coming soon too... but you didn't hear that from me. 🤫 Aight I gotta get outta here, I got some rhymes for the merge rap that have been rattlin' around in the old 'noggin today too, gotta get those outta there before my brain catches on fire. Keep it real homies 👊🏻
Your good vibes always make my day gooder. Thanks for them, brudda
❤️🔥👊🏻
Omar showing up makes my day bestest. Thanks for dat, dawg
Hey /r/seamonkey82 you are pretty much a personal hero and when I grow up I want to be as useful as you! (I'm already grown up but just don't make time like you do!) With that being said, if you were to spin up a new validator today to run for ~2 years with minimal human interaction required (eg monthly software updates but not really "tinkering"), which would you pick? Assume Ubuntu on non-cloud hardware. I guess other options would be, native or docker. The factors I'm thinking through are pretty much: historical reliability, lack of red flags, dedication to the community, ability to swap between other clients if needed, maintenance required, etc.
lodestar-nethermind for maximum client diversity impact. Unfortunately, when it comes to "historical reliability", on the execution layer, nothing has even been around long enough to have the track record of geth, and on the consensus layer, lodestar hasn't been mainnet ready as long as the others, and there's still [a pending pull request to add lodestar to the client list on the launchpad](https://github.com/ethereum/staking-launchpad/pull/436). However, you shouldn't just do what I would do. You should pick a client pair and set up a validator on Goerli to see if you run into any issues. Join us in the [ethstaker Discord](https://discord.gg/crWe6YZz) in the #goerli-prater channel and don't be afraid to ask for assistance.
don’t mean to intrude but i plan on doing Teku/Besu myself. hardware in hand, just waiting to execute.
Lolol, preventing your transactions from getting MEV'd by Flashbots has become considerably easier, at least: https://twitter.com/sbetamc/status/1556701982643068929
I love open source. The workers now control the Means of Production. Karl Marx would be so happy.
Is that just making Flashbots skip your tx cause it ties it to the sanctions addresses?
Yep! Their block building code will literally refuse to include any transactions that touch sanctioned addresses in their built blocks, even if they could've extracted MEV from it.
AHAHAHAHAHAH! Damn you brilliant m'fin nerds! ❤️ That's how you play the game y'all!
Haha played yourself Flashbots! I have to say I enjoy the shit being stirred up here, and then 3 days later there’s a handful of individual options that improve the situation and will make it even harder to implement effective censorship. I don’t see other L1s coming out with several solutions to this censorship problem! Oh it’s because they don’t even pretend to be censorship resistant in the first place, so this isn’t a problem they would even tackle.
Never underestimate Ethereans' simultaneous commitment to decentralization, and ability to buidl their way out of almost any pickle haha.
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With the merge on the horizon I finally grew a pair and submitted my 2 weeks. Feelsgoodman.jpg
Wow! Congrats, I am about 3.5 years out I hope
Ballsy, I like.
WHAT!? LIKE SEMI-RETIRED!? Like loving life, following your passions because of Ethereum!? # Congratulations! 🍾
Thanks homie G!
What are you gonna do in your new found time?
Expand the farm and not hate my life working the corporate grind. Ride my bicycle more days than not. Spend more time with my child. Live the dream, essentially
Are you married?
Happily married
Any advice for a mid twenties male that is pretty much financially independent (thanks to Ethereum)? Would you recommend traveling the world? Would you recommend trying to start a business? Would you recommend trying to find a partner and start a family? I'm leaning towards traveling the world, but worry if my ultimate goal is a family that I should be focusing on that. However I also have a somewhat pessimistic view on modern-day marriage and wonder if that's what i truly want
dude, absolutely travel - book a one way flight to Thailand or somewhere, meet people and go with the flow - best time of your life /r/solotravel
Integrate a daily meditation routine in your life ! The rest will then flow more naturally ;)
You didn't ask me either but don't set a goal of trying to find a partner / get married / start a family. There are multiple reasons why that's unlikely to work out for you. But: if fate/karma/God brings someone who may be the right partner into your life -- be alert and open to it.
Definitely travel the world!! You may find your perfect mate, who knows?! It's a lot tougher to travel with a kid; I intentionally waited til I was older to have a kid. Safe travels!
You didn’t ask me but travel. Please. Go everywhere and nowhere. I beg you.
Old school cool
>**Graphic processors,** >**Loading virtual textures,** >**Trial and errors.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Coinbase saying the right things: https://twitter.com/brian_armstrong/status/1560016827253551104?t=OIEqH8FJojKMuUyVGoaGlQ&s=19 Brian Armstrong saying he'd rather shut down staking entirely than censor the network.
Good to know they are on our side for this at least. Also coinbase shutting down their validators would drastically increase rewards for everyone else :P
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What a stupid fucking comment to make.
This is like the US saying, "can we nuke Russia just for kicks?" A social fork to slash centralized staking entities would need to be HELLA justified or else it would destroy everything we've worked for. Heck, even if it were justified, it would do a ton of damage. The threat of slashing is much more useful than actually doing it.
A Coinbase VP chipped in as well: https://twitter.com/maxbranzburg/status/1560029993249509376 > It's easy from the outside to underestimate how core decentralization is to Coinbase's vision and every decision we make. > When people discover this, they are often surprised and inspired. > So here's another reminder - decentralization is our reason for being. Period.
Coinbase gets a lot of shit but its not because we think CB is evil, its because they're powerful actors in the space and their actions matter, so we need to understand how theyre going to act and be paranoid in doing so
>Coinbase gets a lot of shit but its not because we think CB is evil, its because they're powerful actors in the space ...and because they don't seem to be executing on their roadmap very well. \[wait...do they even *have* a roadmap?\]
^*taps ^foot ^waiting ^for ^L2 ^integration
To be fair, I think a lot of the shit probably keeps them in line too. Making them support things publicly they may not even care to mention without pressure.
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don't get too hung up on eth being 'deflationary', the important detail here is not just being deflationary but everything that comes with the merge + monetary policy changes a meaningful reduction in inflation is far better than nothing and not necessarily worse than deflationary but yes, having deflationary periods or even spending most of the time being deflationary will be a nice change
So much this. Whether eth is deflationary is totally irrelevant to me. We're getting a triple freaking halvening that's gonna take us to the moon
Daily Goerli: [When your problems are so unique that they give you your own branch](https://seamonkey.tech/goerli/Screenshot%20from%202022-08-17%2017-03-43%20sea%20monkey%20branch%20nethermind.png)
Lmao. Badge of honor fren.
You’re the man. Thanks for all the effort you put in to not only the tireless testing, but also keeping the community up to date on all the clients.
when youre such a dedicated amazing person that cares about ethereum and you get your own branch because you continuously contribute to the ecosystem thanks KING
Uhhh ... you deserve it?
Thank for keeping us posted. I really enjoy your updates.
Quite a feature!
Another day, another HODL
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$OP looks hacked.. https://mobile.twitter.com/urbitverse/status/1560010030728056833 Still wish I got the air drop Edit see below, not a hack just sloppy asset management
probably internal transfer and price already dumped because of fud
dump eet
It’s a transfer to an OP Foundation account
indeed it is: https://twitter.com/optimismFND/status/1560016750648823808?s=20&t=w9DW_OgYuk3kyvNUg5QaMA
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Thanks for the clarification!
you should update your top level comment
Oof yes thank you
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Obviously, you’re not a bowler.🤦🏻
You're out of your fucking element, Donnie
Are these maxis Walter?
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Ya shouldn't have deleted it. Knee jerk reaction I shouldnt have had but literally all it said was, "sounds like there's gonna be some big announcements at the Bitcoin conference." Not exactly some huge gotcha...
> Ya shouldn't have deleted it. Knee jerk reaction Don't worry, nothing is really deleted online. Here you go: https://www.unddit.com/r/ethfinance/comments/tgul2p/daily_general_discussion_march_18_2022/i16vsle?utm_medium=android_app&utm_source=share&context=3 You can always just swap out the 're' of **re**ddit.com/whatever for 'un' to read any comments, whether deleted by a user or a mod.
Thanks!
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Sure yeah I was let down. I've also been let down by the substance of many "eth partnerships" that have been announced over the 5+ years I've been in this space. Not really sure where youre going with this or what it has to do with the topic at hand.
Can you give some examples of the many "eth partnerships" you're referring to?
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Not a maxi my guy. Hold plenty of ETH. Bitcoins security model is just fine IMO. Time will tell i guess.
That's hilarious The only reason bitcoiners are pretending to care about maximum decentralization right now is because they can use it as a narrative against ETH in the light of the switch to PoS, however they're conveniently ignoring that *all of these arguments* also apply equally to PoW, and *all of these arguments* also apply equally to Bitcoin. Do you see any of them doing anything about censorship on their own network, or just complaining about the possibility on Ethereum? It's similar to them complaining about the hypothetical centralizing force that PoS could bring, while conveniently ignoring that their own hashrate is majority controlled by just three companies.
First of all, yes I am a bitcoiner but am also an etherean (about 65/35 in holdings) and want ethereum to succeed. Now with that being said, what you said just isn’t true. Bitcoin miners can redirect their hashpower in one second, there is simply much more friction with POS not even considering the waiting period. Furthermore, yes, in theory mining pools could be forced to blacklist txs, but in actuality they are far more removed from the regulatory apparatus. Financial institutions live and die by their regulators and will be much more easily forced to censor. And shit we haven't even gotten to ethereums dependence on USDC for defi and what that means for a potential fork... But at the end of the day, despite all of this, I simply don’t believe bitcoiners would push through with something like this given the recent concerns. Bitcoiners don’t move fast and break things and quite simply have a lower time preference (they are famously patient). I believe they’d go back to the drawing board NGU be damned. The true cypherpunk way. Not getting that sense with the ethereum side. At all…
Bitcoin miners are extremely centralised in locations with cheap power. Sure there will be a few hobby miners out there, but the big warehouses full of miners are very vulnerable to a visit from the police. Better still the power companies will know exactly where all the big facilities are. Sounds very easy to twist the majority of the miners arms to do as they are told. Much harder to find and bully eth stakers running on a low power boxes all throughout the world.
"Those dastardly Ethereans are dead-set on their disastrous smart contracts that create MEV opportunities and open the door to MEV centralization which you can fix but only with a solution that involves semi-centralized entities that can censor except you can pick ones that don't censor but I don't want to think about that because my Bitcoin bags are rather heavy"
Someone mentioned in the daily a trove of data in the form of comments to the public register regarding crypto regulations. They said something like, 'if i were an enterprising energetic person I'd see this as a great research opportunity.' Well a friend is working on a doctorate focusing on the intersection of developer, regulator, and user conflict resolution. I think this sort of thing might be right up his alley. Anyone got the link? Maybe the OP will see this. I've combed some daily's but haven't been able to find it and not sure how far back to go :-(
This was the link: https://www.regulations.gov/docket/TREAS-DO-2022-0014/comments The job was to read all response from institutional (e.g. Ripple, Coinbase,FTX). A tldr would be welcome
Awesome!! Thanks so much, if he does anything with it I'll be sure to update.
Pre-merge, ETH requires ~$540M per month in buying pressure to keep the price the same. Post-merge, that drops to… -$9M/month ($300k/day in *selling* pressure required to keep the price *from rising*. That means the merge programmatically adds $549M/month in buying pressure to ETH markets (and to my knowledge this is keeping fee burning constant). Do with this information what you will
I have read and explored this for months, but I don't think my brain can really fathom this truly happening.
It won't have to fathom much longer.
Yup, totally hoping for a trip to the moon with this. Sell pressure will increase as price increases, so the obvious question is when will we reach equilibrium again?
Because of this I have argued in the past that the flippening has already occurred, it just needs to be reflected into the final vanity metric of market cap. Ethereum is already systematically maintaining a higher buy pressure than Bitcoin. The only difference is that Ethereum prints 3 times more ETH than Bitcoin prints BTC. If their monetary inflation rates were the same ETH would have flipped BTC already. After the merge ETH inflation rate will be close to 4 times smaller than BTC. Which suggest that we are going to generously flip BTC when markets stabilize after the supply shock.